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OKX launches cryptocurrency trading in Australia
Cryptocurrency exchange OKX has launched in Australia with spot and derivatives trading for local users.
After opening an office in Sydney last May, OKX’s Australian venture is the latest in a series of international expansions, with previous entries into markets such as Turkey and Singapore.
OKX Australia will initially offer 170 cryptocurrency pairs and 85 tokens.
The Australian branch operates under local regulations, aligning with the exchange’s strict financial guidelines in the country She said in a news release Tuesday.
This means that over-the-counter (OTC) spot trading is available across OKX Australia’s client base.
Derivatives products, including perpetual swaps and futures, will only be open to verified wholesale clients.
OKX’s Australian expansion is a response to growing interest in cryptocurrencies among Australians, with the Australian Securities Exchange (ASX) also contemplating the introduction of Spot Bitcoin ETFs by the end of 2024.